South Port NZ Ltd – Interim Report to 31 December 2017

South Port New Zealand Limited - Interim Report and Interim Dividend Advice Dear Shareholder INTERIM REPORT South Port New Zealand's Interim Report for the period ended 31 December 2017 is now available on our website. You can view the Report here: South Port NZ Ltd - Interim Report and Interim Dividend Advice South Port's NPAT for the first six months of FY2018 of $4.90M (FY2017 $4.10M) exceeded the expected level of half year profit. Several factors contributed to this interim result, including: ? Large volumes of inbound fertiliser were recorded for the first six months. ? Dry weather had a negative impact on pasture growth which has led to an increase in stock food imports for the dairy industry. ? Log exports have remained strong due to buoyant market conditions. The receipt of bulk fertiliser cargoes was "front ended" this year by the customer and the expectations are that these volumes will ultimately realign closer to the projected budget by year end. Based on all known factors at the date of releasing its 2018 interim result, South Port estimates that its full year earnings will fall in the range of $8.65 million to $8.90 million (FY2017 - $8.40M). PERFORMANCE SNAPSHOT ? Record cargo of 1,732,000 tonnes for the six month period compared to 1,517,000 tonnes in the previous interim period. This represents an increase in cargo flows of 215,000 tonnes, or 14%. ? Bulk cargoes continue to be the backbone of the Company recording strong volumes of fertiliser (+63,000), acid (+20,000) stock food (+19,000) and logs (+49,000). ? Interim NPAT up 19% (31 December 2016 - $4.10M) owing to the reasons outlined above. ? Operating revenue from continuing operations up 12% to $19.5M. Interim NPAT to 31 Dec 2017 $4.90M Interim Dividend 7.50 cps (no change) INTERIM DIVIDEND The South Port interim dividend of 7.50 cents per share for the half year ending 31 December 2017 is due to be paid to your nominated bank account today. Your electronic dividend advice is now available from the Link Investor Centre (South Port's Share Registry). To access your dividend advice(s) please follow the instructions below: 1. Click on the Shareholder link(s) below (each link represents a separate shareholding): [ExpressID Link] 2. Enter your Authorisation Code (FIN) for secure access. 3. Click on the icon next to the payment dated 6 March 2018 to view the payment advice. Yours sincerely Lara Stevens Finance Manager South Port New Zealand Limited End CA:00315144 For:SPN Type:INTERIM Time:2018-03-06 09:34:06